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US considers strategic oil releases as energy prices rise

Energy Secretary Chris Wright stated the U.S. is discussing coordinated oil sales with allies to stabilize prices. No release has been officially announced yet.

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The United States is evaluating a coordinated release of crude oil from its Strategic Petroleum Reserve (SPR) in conjunction with international partners as global energy prices climb amid the war involving Iran. Energy Secretary Chris Wright announced the potential move on Monday, highlighting efforts to stabilize a volatile market.

Energy Secretary Chris Wright attends a working lunch during the Shield of the Americas Summit at Trump National Doral Miami in Florida on March 7, 2026. Rebecca Blackwell/Pool via REUTERS
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